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The Stacks DeFi Show #64
Recorded: May 6, 2025 Duration: 0:58:00Space Recording
Short Summary
The latest Stacks DeFi show unveiled exciting developments, including the launch of Protocol, the listing of Alex on Zest, and the introduction of continuous yield for staked assets. With a focus on enhancing liquidity and fostering partnerships, the Stacks ecosystem is poised for significant growth and innovation.
Full Transcription
Music Thank you. Music Thank you. Music Thank you. Music Thank you. Music Thank you. Thank you. Thank you. okay guys welcome to the stacks defi show the 64th edition of the stacks defi show
it's usually taiko that kind of leads these things but he's currently uh experiencing some
technical difficulties shall we say so imagine taiko now hot tailing it to the nearest Wi-Fi spot.
I'll kind of take over just the reins for a minute. Welcome to everyone. If you've not been
here before, this is the, you know, I've been running for over a year now. We talk all things
stacks, all things DeFi, basically anything that's going on. And we're joined with an amazing panel of guests again
we have Alex, we have Nikib from Protocol, we have Tycho, I think we have the guys from Hermetica
popping up as well, a few other people that are still waiting to tune in, we'll kick it off with
the intros while we wait for Tycho, I'll go quickly, I'm Rubes, I'm the co-founder of Stax Tools
and also the co-founder of LeoCoin on Stax,
which is a meme coin on Stax. It's Muneb's pet cat, and I'll keep it short and sweet there.
Why don't we head over to Hadan, who I think is behind the Alex account.
Do you want to give a brief intro and say hello to everyone?
Hi, everyone. Pleasure to join you today. This is Hadan with the Alex Lab Foundation.
pleasure to join you today. This is Hadan with the Alex Lab Foundation. Alex is the
largest stacks on Stacks. We have our sister protocols, protocol and Lisa for liquid staking
as well. Very excited to have Nakeeb on as our guest today representing protocol. So
I'll pass the mic on to him.
Yo, GM, GM everyone. I'm Nakeeb. I'm the CSO of Bortocol. I mean, Bortocol, just a very
quick introduction about myself. I've been in space for quite a while, since 2016, mainly on DeFi,
and then went deeply into Bitcoin in 2021 and never looked back since. Best move ever. And then
I've been building on Bitcoin for about three, four years now. And then I joined BotoCall recently to be able to kind of build something really cool in space where to connect people, to connect the whole ecosystem together, to bring DeFi onto Bitcoin instead of having Bitcoin being wrapped into DeFi.
I'm sick and tired of people sucking liquidity of Bitcoin into different chains.
Instead, now I want to suck this liquidity into Bitcoin
by wrapping their tokens into Bitcoin instead.
So I can share more if people want to.
Just a quick info, yeah.
Amazing. Thanks, guys.
I think it's just us three on stage at the moment,
me, Hadan, and Nakib while we wait for Tyco.
So I think, yeah, may as well delve into protocol, if you will, Nakib. us three on stage at the moment me uh hadan and nakib while we wait for taiko so i think you
yeah may as well delve into delve into protocol if you will nakib you know what you know what
brought you to protocol um obviously you mentioned a little bit about you know you know not wanting
liquidity to be taken away from bitcoin but you know what what brought you to protocol maybe a
little bit of background of uh of yourself though yeah So for myself, I've been in the space since 2016,
mainly on Ethereum back then.
Worked in an OG company called Kyber Network.
It has the operation head in basically doing DeFi stuff
from 2016 all the way to 2021.
And still continuing.
Then I left Kyber and then I still was into DeFi
ever since doing all the contract stuff as a contractor, as a consultant working on bridges,
working on DEXs, helping companies set up their operations in Singapore at times as well as
doing economics for companies and helping projects that want to
do asset organization. For example, Web2 asset organization, they have clients at Walmart back
then. And along this line, I've always been into DeFi, but I kind of shifted a bit more on the
Ethereum side to focus more on the Bitcoin side,
where in 2021, there was ZTAPROD upgrade.
And I have since found it really, really cool. Like this new upgrade kind of bring life to the whole Bitcoin ecosystem.
Like in 2022, you know, as you know, there was already knows back then.
And I was heavily involved in owners as well because to me it's a really cool
meta protocol i should say a cool protocol that leads on bitcoin like art on bitcoin and then
there's bs20 there's runes and i built a company previously called odza which is the biggest
permission launchpad that focus on anyone to launch or knows easily on. That was my main goal. But at the same time, I've always been really deep.
I started to really dig deeper into the whole Bitcoin ecosystem with Stacks.
I was really new to Stacks back then, actually.
I knew about Stacks more like just trading Stacks token,
but didn't really bother what they were doing
until when I deep dive into the whole ecosystem,
there's Roostock, there's rootstock, there's text, there's lightning.
And it kind of triggered me to say that,
damn, you can do all these things in Bitcoin.
This is insane.
Like all this while, I'm like a typical guy
that like to do fun stuff on DeFi, on Ethereum,
on back then, even before Solana was there,
on Airbnb, on Tron, or EOS, especially the old one, right?
And I didn't know Bitcoin had such things.
And I always thought it was like a store asset value kind of concept,
a kind of product until I met, I learned more about the whole ecosystem.
And Stacks was, to me, the closest thing that is to have
a programmable chain on Bitcoin and true enough
with the Nakamoto upgrade and everything things are looking even better right of course there's
lightning as well and since then I've just been heads down fully dive myself into the Bitcoin
ecosystem and when I managed to so also right now my previous company is on a merger acquisition
standpoint and that's when I actually met someone in LX Lab, the founder, I think it was Chan and Rachel.
And they said, hey, they got this sister company called Xlink.
And we talked and talked and talked.
And before I joined, I told them that there's a lot of things that can be done with Xlink.
And if I were to join, I want to grow xlink to be a different brand
i don't know i do not want it to be called xlink in a sense where it's there's so many links out project out there right i want to make it sound very unique very very cool very bitcoinish but
very um people can relate so that's why i came up with the name protocol and the the thing about
protocol is my goal is to bring default on bitcoin that's one
second thing is to bring more liquidity into bitcoin that's two and the third thing is to
be a connectivity layer for the bitcoin ecosystem what do i mean by connectivity layer right many
of you here knows that the bitcoin ecosystem is very siloed it's very fragmented you have the l2s
doing its own thing you have the owners and everyone doing its own thing, you have the native devs doing its own thing, you have the
sidechains doing its own thing, and all of these aren't really talking to one another, and each of
these siloed of fragmented sectors have its own liquidity, its own volume, right, and it's unable
to move into different ecosystem because there's no rails or no
of course there's bridges and stuff but most of the bridges out there focus on bridging bitcoin out
into different chains so protocol one of his core purpose right is to connect all of this different
ecosystem together we are like a bro to everyone.
If you're an L2, we want to work with you.
If you're a native debt, we want to work with you.
And if you are building something, we want to work with you.
And we want to connect all these roads together to eventually all of this
ecosystem can communicate to each other.
And when I talk about bringing DeFi to Bitcoin, my goal is instead of having people wrapping their Bitcoin to buy Solana tokens or wrapping their Bitcoin to buy different tokens in different chains, my goal now is to wrap this token into Bitcoin so that you can buy Solana token using your native Bitcoin with a simple click and you can hold the Solana token
in your Bitcoin wallet for example right we all know Bitcoin holders do not like to hold multiple
wallets it's a fact and doing this helps people to actually move the asset from Bitcoin to different
asset natively on Bitcoin itself so there is there this what's have this the goal of doing protocol to
kind of grow the ecosystem by connecting as well as grow the amount of assets coming to bitcoin
and its its use cases yeah super cool super cool so really great to uh great to meet here in a keep and uh just
quick check if everyone can hear me i had some huge bugs on the spaces
no amazing a lot in clear taiko amazing amazing amazing no that's cool that's amazing it's great
so um yeah and i mean i guess nakib and, like, you know, maybe following on from that.
What's exactly new on protocol?
Like, since, of course, the rebrand is new, right?
Previously, it was Xlink.
Has there also been new kind of features or integrations that have launched since then?
Because it's been like, I've seen a lot on the timeline, you know, and it's kind of hard to keep track or consolidate it.
So maybe, you know, I'd um kind of hard to keep track or consolidate it so maybe yeah
you know that that would be i'd be very curious about that yeah so ever since big um protocol launch about two weeks ago on Wednesday it went really well you know a lot of it was accepted
very well a lot of people supported right so due to launch itself privacy exiting was only a bridge
now we have the decks
right the decks is based on account abstraction and resource liquidity from different um lps not
us so we are basically an aggregator for the deck side and what do what is this deck is all about
this deck is is pretty is different from the idea of what you think about decks that you know of
right like i said our focus is to bring
DeFi into Bitcoin by providing liquidity of a specific asset to be on Bitcoin. Again,
I should use examples as WANA or Ethereum because it's mainly used or even USDT, right?
So with BroSwap, so there's three products. There's BroSwap, BroBridge and BroPay. I think
most of you know what BroBridge is all about
because it's a legacy product from Xlink,
so I will not touch on that.
But BroSwap is basically if you have Bitcoin,
and let's say other than you have some extra Bitcoin
that you want to spend, right?
And maybe, you know, you see Ethereum at 1,000, 2,001 price, and you feel it's going to go up at $1,000 to $1,000 price
and you feel it can go up at $1,000 for
and instead of sending it to an exchange
or swapping your Bitcoin to WBTC to buy ETH
or go to SimpleSwap, whatever,
you can actually then just swap your Bitcoin to Ethereum
or for Solana, for example,
directly on ProSwap using a single bitcoin wallet
that xverse or leather or whatever and then when you swap your bitcoin to solana you can then hold
your solana is whole inside your wallet the why why is this good this is good because this is for
people that want to quickly get a different asset that they think that's going to go up appreciate of value like for example i bought i used bro swap the other day
where big solana was at 100 plus um 100 plus dollars um based on their fiat value and i use
my bitcoin to swap it and hold my swan on my exodus right and at the same time, when Swana went to $150, I swapped back to Bitcoin.
Because at the end of the day, what do we Bitcoin want?
We just want to stack more sets.
Pretty much the same, right?
And this one-click solution that enables your Bitcoin to be used to buy different tokens
and then back from the token to your Bitcoin, it saves a lot of time.
And what this opened up as well, meaning that now you will have the capabilities
to move your Bitcoin to stablecoin if you feel the market is going to go down.
And usually how do you do that?
Either you send it to an exchange or you swap it from WBTC to USDC or USDT,
or you use simple swap or whatever.
Now you don't need all this centralized platform.
You can just go to Bitcoin, go to USD or USDT,
which we're going to support very soon,
and boom, you got your SimpleCoin.
And then once Bitcoin dropped,
you can then swap back while you use the Bitcoin
and then you can hold more Bitcoin
because at the end of the day, you want to stack sets.
That is the product that right now is launched.'s live you can test it out more tokens gonna come in which is pretty fun
pretty cool and at the same time we is on a public beta so if you have any bugs you face anything do
reach out to a team they want to they can support you right and if you have found any bugs do reach
out to the team as well so we can also maybe reward you with some prizes.
The other product that is coming out pretty soon
in two months time is BroPay.
So BroPay is a unique idea that I wanted to build
where my goal is to let other chains
or other chain users
to be able to purchase native Bitcoin assets
or use native
dApps on Bitcoin via other tokens.
So what do I mean by other tokens is, for example, you know about
Ornals and Runes, MBRC20s, or there's Alkanes, you know, all these meta
protocols on Bitcoin, right?
Right now, you cannot buy them using Ethereum, Swan or Silver coin.
But soon with BroPay, we will work with exchanges,
so marketplaces or Launchpad like Magic Eden, Odza, Trio, whatever,
that can give you access to these ordinals by paying in Solana.
And then the beauty of this is the seller who's in the ecosystem
will receive Bitcoin as the final price.
So you can, if you're Solana holder, you want to buy this asset,
you can just use a Solana on the backend protocol or BrokePay.
And just to jump in, I keep...
So I'm kind of going to play like the dumb guy who doesn't understand everything. So it is like, it's a DEX as well?
Or does it aggregate like liquidity, let's say from Alex, from Magic Eden, from I don't
know, Radium?
Like, is it kind of like an aggregator slash bridge?
So the DEX is an aggregator, but the bro swap, sorry, the bro pay is not.
It's a...
No, I understand that.
That's a separate layer on top, I guess, to...
Yeah.
Yeah.
Okay.
Yeah.
Oh, very cool.
Yeah, for the DEX side, we actually aggregate from DEXs like
KyberSwap from, I think, MatchaSwap.
We're going to soon integrate Radium and different other swaps to get this liquidity coming in.
Yeah.
Cool.
Very exciting.
Very exciting.
And yeah, and this is kind of built on top of Alex.
I'm kind of want to pull her down in as well.
But so it's kind of built on top of Alex.
Also kind of curious how you guys think of like protocol and Alex, right?
Because I guess some people might think is protocol now also a DEX and Alex is also a DEX?
Are they competing with each other?
I mean, I guess the answer is no, right?
But just curious for your perspective as well, Hadan.
Sure.
So from my perspective, I would say, you know, Stacks is very much, sorry, Alex is very much a Stacks, Stacks centric.
And that, you know, the tokens are accessed through the Stacks, through the Stacks wallet, the transaction times or Stacks transaction times.
And so for those who are looking for and are comfortable with a NL2 experience, you know, Alex remains that sort of core and central DEX.
You know, protocol was really a shift in expanding
our footprint and user base towards those
who are more Bitcoin-centric and who, you know,
over time we've seen that they sort of click off,
you know, as soon as even having to create
a new wallet as necessary.
And so, you know, as soon as even having to create a new wallet is necessary. And so, you know, protocol,
it creates a Bitcoin native like Dex and experience
where, you know, you can just use exclusively
your Bitcoin wallet.
You do, it's like a Bitcoin round trip experience
where you send out a Bitcoin asset,
you receive back to your wallet a Bitcoin asset.
The confirmation times, well, the settlement times specifically are Bitcoin settlement times.
And so, you know, I would say those are the sort of key differences in terms of, you know, key demographics or user bases that we are that we're targeting.
Would you say that's that that's accurate in the key?
Yes, that's very accurate, Hadan.
Thank you for the explanation.
Sure, Tycho. Does that kind of clear it up or let me know?
Yeah, yeah, for sure.
I think that's very clear.
I'm sure it is for everyone else.
No, super great. And also I missed a bit the start. You guys did intros already, right?
Like, Rube's already introduced itself, and you guys did
and stuff. Yes, we did a quick intro.
Amazing.
Amazing, amazing, amazing. No, fantastic.
Fantastic. I guess
maybe just, yeah, quick
of course, like always, for instance, Dax, ask
us to do the quick disclaimer that everything
we share is for informational purposes only, right?
Indeed, indeed.
And not financial advice.
I just want to make sure that that one is in there too.
But no, super exciting.
And we'd love to also go a little bit to what happened this week in Stacks because we have a lot of news, a lot of exciting things.
a lot of news, a lot of exciting
things.
I guess, you know,
first of all, like, you know, Alex is now
the Alex token is now listed on
Zest, right? That went
live, I think, on Tuesday or
Wednesday last week. So about
$100,000 worth of Alex
is now deposited on Zest, and you
can borrow against it.
And you can also
borrow Alex.
So Alex is actually the first token on Zest
that is like not STX or BTC, that is collateral.
So, you know, Nakamoto allows us to expand that kind of stuff
now that blocks are faster.
So, and yeah, of course, Alex being the largest liquid token
in the Stacks ecosystem, you know, that's a very obvious candidate.
I see that today, though, we have $600 worth of debt against Alex.
So, you know, still very early days.
You know, the borrow cap is $500,000 or the debt ceiling is $500,000.
Sorry. The borrow cap is 500,000 or the debt ceiling is $500,000.
So yeah, that means that there can be $500,000 of debt issued against Alex token. So yeah, if you're an Alex holder and you want to access liquidity or want to go long on something,
access liquidity or you know want to yeah want to go long on something then then this is a
yeah this is a great a great opportunity so so yeah I think that's definitely news any any
anything you want to add to that had up I'm sure if you're saying something, if you're muted.
I was muted briefly.
No, very excited, of course.
I think that adds a lot of utility to Alex, certainly.
It's more power, it's more utility, it's more leverage.
And so that's a partnership that we're very excited about as well. And I think, yeah, I think looking ahead
as things start to heat up in the ecosystem,
you know, I think that that utility
will really be self-evident and then obvious.
And so it's great to have those pieces in place,
you know, before things start getting heated up.
Yeah, I guess I was going to ask, Tycho,
I guess aside from LL Attics token,
any news on the Zest or stacking now to share?
Always curious to know.
Yeah, I mean, just general in terms of product updates and stuff like that.
Yes.
Yeah, I mean, I would say that another thing that happened last week,
which is big and exciting, is the fact that...
Oh, my God, I can't properly scroll anymore on this face and stuff.
But it's also what I pinned here above.
It's the tweet most to the right,
which is a feature update
on StackingDAO, which now
basically introduces
continuous yield for
staked SDX and staked stacks BTC.
that maybe sounds abstract because
you're like, well, I already earned yield on
staked stacks or staked stacks
BTC, right?
Of course, for those of you who don't know right
stacking down is the uh is the liquid the largest liquid stacking protocol on stx so you can you know
get yeah consensus yields from staking stx and either in btc or in sbtc with the staked tax btc
or in stx with staked stacks and and those rewards right so that yield used to be paid out every two weeks right
because that's like the way that stacks consensus works so you know every two weeks you would you
would get um you would get yield and um and and now that model has basically switched or been
upgraded to be it continuous so if you you use StakeStacks today,
or if you get some StakeStacks today,
or StakeStacks PTC,
you get yield like today, immediately,
not in two weeks,
not at the start of the next cycle,
but right now, today.
And that's of course like a very big UX improvement, right?
Because there's no other staking product, you know, in the space where if you stack, you get yield immediately.
So that's sort of a very clear instant gratification kind of moment, right?
But also, it's a very important building block for DeFi and Happy Tools.
So, you know, expand more into that.
But yeah, that's like a big update from stacking now from the last seven days.
Excellent.
And well, I guess something that I wanted to ask to you both,
because I believe you were both in Dubai last week?
Yes, definitely. I'm now in the Bay Area
in America, but yeah, I was in Dubai
last week, yes.
Yeah, well, I mean, I wish I could have been, but I would love to have both
of your takes on
what kind of trends you've noticed
what the topic of conversation was
uh yeah that is always much appreciated yeah you keep do you wanna do you wanna go first
oh i think nikki just uh just disappeared from the was captured by the ex-coasts
do you wanna do you wanna go first i'm not sure if you heard Adan's question.
I missed the question.
Adam was asking for takeaways from token 2049.
In Dubai.
Yeah.
Yeah.
Yeah, it was pretty cool.
This token 2049, you know, I was very happy to see, first things first,
there's more Bitcoin events that was happening compared to different token events because usually in non-Bitcoin
focused events like token 20.9 and other non-Bitcoin events, you don't really
see much Bitcoin side events that happen or even official Bitcoin events tied to
token and this time there were at least six or seven Bitcoin events and to me
there's a very big increase in the Bitcoin ecosystem.
That's one, right?
To me, I'm very happy on that.
The second thing, of course, the highlight was SBDC and Stacks and SWE partnership.
To me, I was there.
It was insane.
It was pretty hype.
It was, yeah, a lot of people was like holy this is pretty cool um stacks um
plus sbtc i'm sorry with um sweet protocol and having sbtc on sweet i think that was one of the
highlights for me right other than that the fun thing was you know i went to the eric trump event
there was a eric eric trump was there and he was talking about Bitcoin,
talking about how he wants this Trump Tower in Dubai as well, right?
And you can use Bitcoin to pay for your rooms and stuff like that.
And then CZ as well basically just said that
he is so bullish on Bitcoin compared to other tokens
that he feels that this cycle,
Bitcoin is going to hit 500k very very fast and he himself is
pushing bitcoin and he believes that the bitcoin ecosystem is going to grow rapidly he he yeah he
didn't really mention much on stuff building on bitcoin but he did kind of say that he is looking
very very deeply into this whole bitcoin ecosystem, the growth and stuff like that.
And there were, of course, other people that talked about Bitcoin as well.
To me, these were the highlights, right?
And you cannot forget the Habibis, the sheikhs.
I met a couple of sheikhs in Dubai.
And trust me, they are pushing billions and billions of dollars into buying Bitcoin.
And they have zero idea what to do with it until I explain to them that the whole Bitcoin
ecosystem is growing rapidly.
The L2s are doing amazing.
There's Stacks.
There's RSK Lightning.
There's BTC5 pushing up crazily.
There's Bitcoin native apps that's happening and they were shocked.
You know, to them, Bitcoin is either two things.
You either invest as a store value asset or mining.
They never knew that there's BTC5 or Bitcoin DeFi ever.
So these are, to me, big things, big highlights of the event.
Yeah, no, likewise, I would issue that sentiment for sure.
I mean, there were some pretty big things announced, right?
And the region itself is obviously very excited about about crypto there was like a an event in abu dhabi the day before that uh
that i attended which was like um you know more finance focused you know one where uh stx also
announced the official you know licensing of the stx token in them in in in the regulatory framework
in in the uae which is you know very big news for essentially sovereign wealth funds right or very
big all the big capital that is there
to be able to, you know, access the Bitcoin ecosystem
in that way.
And, you know, STX is the first and only one
that's licensed like that, of course, outside of BTC.
And yeah, I would say that generally the takeaway
is that, yeah, this is the Bitcoin cycle, right?
As I keep certain, that's going to you
know um yeah that's only going to going to continue as we have the tariffs as we get a deal and all of
those things and then you know outside of that outside of btc in the top 100 of tokens there's
only one other token that has something to do with uh with bitcoin that's that stacks of course right
it's uh essentially you know Bitcoin innovators, right?
Which is essentially what we're all doing here on the space.
And yeah, we saw that a bit over the past weeks, right?
SDX kind of emerged as a top gainer.
Of course, things have cooled down a little bit.
I think people are waiting for the Fed meeting later this week.
But yeah, I think very good prospects in that way.
And I had the chance to catch up with Moniv a bit
and talk about all the exciting features
that we're shipping.
And the friends of Binance Labs, of course,
who backed SES Protocol and many, many, many more.
So it was really a great event
and saw a lot of Stacks friends too.
So, you know, the people from VELAR and, you know, the Stacking Now Ambassadors and Stacksie and all of those people.
So it was really, yeah, it was really, really, really a great one.
And yeah, and so it was really a really great great conference and um also what's been great
i think over the past weeks is sort of uh um you know the the stacks meme coin activity right or
groups like um you know i've been this tweet from you it's like the second one from the right if
people are on their on their phones or devices but. But you made a pretty interesting observation, right,
about the ratio of meme coins to STX market cap, right,
versus other ecosystems.
And, you know, curious for your take on that.
Of course, we saw Leo pop up everywhere too during Token 2049, right,
on stage, behind the booth, everywhere, you know.
He was busy, yeah.
He was working hard, you know. was busy yeah he was he was working hard you know he
was uh definitely earning his his wages that day uh he was on stage with manib he was obviously
with you guys as well but yeah it looks like uh it looked like a lot of fun obviously trying to
trying to trying to play around with some some fun stuff there the one on the uh the photo with
manib on the stage i actually changed the where it said, like, oh, you know, Bitcoin, we're going to unlock two trillion in capital.
I just changed all the words to Leo.
So it was like, Leo is this.
And, you know, I started trying to have some fun with stuff there.
But, yeah, it's been good to see some, you know, some energy and some activity back on the Stacks memes.
Obviously, Leo's kind of been at the front of that, actually.
We've recently passed the, we're currently the highest liquidity mean token on Stacks.
I think we've got 200 and something thousand liquidity,
which is great to see,
especially compared to our market cap as well.
I mean, I did a recent tweet from Stacks Tools
kind of explaining the top mean tokens
with their liquidity and kind of like a ratio of that um
liquidity to market cap and another ratio i did was the the pin tweet you mentioned obviously i
kind of compared the top 10 solana mean tokens compared to the solana actual market cap i did
the same with stacks top 10 mean tokens compared to stacks uh market cap. The ratio for Stacks is 1 to 100, so memes
to fully dilute value for Stacks, and Solana's was 1 to 10. So even just as a ratio, I mean,
obviously the actual number, the combined market cap for Solana's was crazy. It was
like 12, what was it? 07.7 billion for their top 10 memes. But actually, just as a ratio,
there's so much room to grow for Stacks memes there as well,
especially given how strong the communities are in Stacks.
Yeah, that makes all the sense.
That makes all the sense.
And yeah, I mean, Leo has kind of cemented itself
as like the most liquid of the meme coins on Stacks, right?
Yeah, maybe important to also shed some light
on why that's important.
Yeah, definitely.
So we recently passed, I think it was like
maybe 10 days ago, two weeks ago,
we'd actually, it's always been historically
Welsh with the highest liquidity.
And recently we've kind of overtaken that
with the liquidity there.
And it is important because obviously on paper,
a coin could
have 100 million market cap but only a hundred thousand dollars worth of liquidity so in reality
it's very very hard for people to to sell that token uh any sales would have a significant impact
on this token so obviously having that higher liquidity gives people confidence people can
see that it's you know established and been around for 18 months now as
well. So I think time as well as that, but particularly early on in a life of a meme
it needs strong liquidity. So we have that, which is great to see. So obviously people are given a
vote of confidence there. Obviously our LP is on Alex as well. So again, an established
DEX, the largest DEX. So that gives people more confidence.
And that's what it's all about.
You want people to be able to swap in and out of these tokens easily as well.
You know, you don't want to get people stuck and cause like a bit of a cascade of sales or whatever.
But yeah, we passed the liquidity and we also topped the seven-day volume for meme tokens.
Again, it's always historically been welsh with the with the highest
amount of volume but i think last week we did 176 000 worth of volume and i think alex came down to
sorry a welsh came down to 145k volume and i think below that i think it was satoshi ai at 21k so
obviously we're getting a lot of uh people coming in, seeing Leo obviously being
the founder's pet, people coming and
we're getting those inflows which is great to see.
Yeah.
I can only echo that.
So, you know, Muneeb is
also very excited about
Leo generally, right?
The meme ecosystem.
So, no, that's exciting and
also i guess on that on that note right there was also an announcement from um from satoshi ai which
is like uh i guess the largest ai token on uh on stacks though still very very small about um
um yeah about like basically you know basically becoming rather than being
Satoshi's ghost, right, becoming an actual
like DeFi, you know,
as in DeFi with AI
tool, right, so
to actually launch a terminal, right,
like a sort of chat GPT-like interface
to get trading strategies
from like Stacks Alpha, which
the Satoshi AI holders can access soon.
So yeah, that's definitely a very exciting thing too,
because like we don't really have something like that
on Stacks, right?
Like a way to basically execute transactions, right?
Directly from a terminal and to be able to discover all the different strategies
that there are, like also Bitcoin DeFi more broadly. So that's definitely a very exciting
development as well. And yeah, then also always looking quickly at the numbers, right, on the Zest side.
There's been a lot more borrowing or like 5% more borrowing in USDC
over the last week.
And also USDH is up a lot in terms of amount borrowed.
borrowed so usd usdh loans are uh are up about 14 so there's like 360k uh today of usdh that's
So USDH loans are up about 14%.
that's borrowed um and there's still much more more available and it's only two percent to to
borrow it so it's uh yeah it's kind of like a no-brainer but um but yeah that's very uh a very
powerful powerful thing and uh some things that we saw on Zest over the past week.
Yeah, so it was never so cheap to borrow some dollars
at the sub-treasury rates on Zest vertical.
And do with it whatever you want from there.
And yeah, CGP has also joined us.
What's up, what's up?
Anything you want to share or jump in with?
Yeah, what's up, guys?
Hope everybody's having a blessed start to their week.
Excuse me.
Yeah, it's been a good start to their week excuse me uh yeah it's been
a good tuesday getting getting off good uh energy and uh just saw that you could bong stx on on
velar now that's pretty cool um oh really yeah that was announced right now that yeah that just
happened um just went down that is uh something we need to uh we need to pin here
where is that velar i've not seen that so you could basically long stx against usdh
so yeah man uh let me grab i'll grab it i put it up here i put it up here
yeah i'm i'm going to zest i'm going to borrow some usdh and then play with it and you know
i'm going to do a screen share in the discord we're planning on doing a a weekly screen share in the stacking
dow discord after this and stuff like that so maybe we'll explore a little bit into you know
what that looks like the whole process amazing amazing amazing amazing that's uh yeah that's
very exciting exciting stuff um yeah exciting times for our ecosystem
there's so much building going on right now it's it's we have we have more apps more ways to earn
than ever before it really is a good time to be in stacks it feels like we're early
no for sure for sure and i would also add to that, that, you know, one of the conversations I also had a lot
last week in Dubai with people is kind of this, you know, I mean, at the time that Stacks
was like kind of at all time highs and things like that, it's like roughly a year ago.
And back then, you know, STX was trading at like, you know, almost $4, which is like,
you know, five times as as as it is trading at today
maybe even more um and that was all on anticipation right of uh of nakamoto of sbtc right of uh
of all of those things and uh and that's actually life right like nakamoto is live it works very
smoothly i mean gp you know we can go in the Stacks Discord and do a screen share
to show some strategies.
I mean,
unimaginable a year ago.
We have SVTC as well.
So you can borrow
against your BTC on Stacks.
You can deposit it.
Well,
you can scorn get cap,
but you can withdraw it,
right?
So since last week,
very big that,
that we actually didn't really
talk about SVTC withdrawals.
But,
but yeah,
so all the tech that people were so excited about
when Stax was at $4 or $3.80, it's all here.
And it all works.
And there's a bunch of applications that are built on it.
So very clear all-time high in terms of tech.
And it's just a question for narrative to shift, right,
or to come back.
So yeah, those things are
very um are very very exciting and i think we have some uh yeah some big things to to look forward to
in the coming um in the coming weeks so um so yeah very yeah you know i i'm not one of those
oh sorry tyco no no i didn't say go go ahead go ahead yeah another one of those apps dude that i'm
really excited about is is boostx you know uh crypto dude has been really shipping on on boostx
we've been talking a lot um about his ideas for social fi on stacks you know uh getting the
content creator economy kind of going um and one of those things, like his latest updates,
he's doing space drops where you can do airdrops
in a space directly from X
if you have the Chrome extension downloaded.
That latest update that he just pushed,
I'm actually looking at the rocket ship
and thinking about doing a space drop here.
We were talking about Leo.
We got Rubes up here.
You know, I have the option to click this button
and I can airdrop Leo to people in the space that have a BNS.
So it's really interesting to see how much the tech has evolved
in such a short span of time.
It's wild to me. me wow that's awesome so
is that actually like working now oh yeah that so this this update he was working on uh like
broadcast boost so where like say for deorganized if somebody wanted to tip us or do something with deorganized, like you could tip a broadcast from X.
And in this latest updates, like he, he pushed like a Cigna integration,
space drops, which is airdrops to spaces and a few other things.
The guy has just been chipping away and that's live now.
Oh, wow. That's awesome.
That unlocks a whole crazy field of things that actually you could do like rewards you could say like okay you know if you join this space
we've got big announcements you know i'm going to give away a million leo to listeners and it just
kind of depends on who turns up then i guess because and then you could like distribute it
to everyone that has a bcc name that's awesome right like it's a way to grow your space um you know you'll you'll get your airdrop hunters kind of like chasing after
the latest um airdrops and then uh there's going to be notification pushes like to where you'll get
a notification if a space received an airdrop and you have the extension downloaded so it's
a space received in airdrop and you have the extension downloaded so it's it's it's really
it's fascinating to me kind of seeing the tools being built that will help us grow uh our audiences
right yeah that's awesome what's this space i'll be i'll be trying that out for sure I think
that's a good idea
I think I'm tempted
I think I'm going to do a space drop
right now to just airdrop
some Leo to people with
BNS in this space right now
I'm just tempted I have to
I'm a tinker
oops
generational Leo coming our way I have to tinker. I'm a tinker.
Generational Leo coming our way. This is pretty exciting.
Let's go.
Do I qualify as well for that?
I guess GP said that everyone was a BNS name in the spaces.
So is that just? No, that can't be. Is that just...
No, that can't be...
Is it just us? No, I see.
Yamizua.btc
is here.
I think it's Diego.
Fracture as well.
Of course, legend.
Fracture.btc.
Dika.btc.
Diego. There's a few. dica dica.b.b.tc okay Diego
there's a few
we're gonna get there
it pays to get your
btc name guys
yeah
it goes to show
it goes to show
onchaink.b.tc
as well
definitely seen him around I'm gonna have to give
him some feedback it looks like um the button is like like i'm trying to click it i'm setting up
the airdrop and uh it's on click so i'm gonna have to let them know immediately like yo i'm trying to
i'm trying to give the i'm trying to do the space drop for the Leos, for the based founders and community members with the BNS,
you know, as their name.
I don't have to let them know.
Oh, well.
Oh, well, oh, well, oh, well, oh, well.
Maybe next week.
Maybe next week.
We can prep everyone and get them a BNS name
so they can tune into this DAX DeFi show
and get a little Leo drop on next week.
This is the way.
This is the way.
Building in the open, you know, communicating
and letting people know what's happening in real time.
This is the way.
Transparent, you know.
Very, very exciting. very exciting yeah any uh anything else we wanna we wanna share this week I believe we are...
The SBTC CAP3 increase, has the date been announced yet,
or are we waiting on that?
I think that's supposed to be announced this week, right?
Mm-hmm. I don't know.
I have a call later today where I expect maybe to learn more,
but as far as I'm aware, nothing has been announced yet.
Okay. All right. Yeah, I guess we have our eyes on that
so that we can also announce the co-launch of Search 4.
So company that.
But yeah, I think, yeah, besides that and other announcements,
it'll be another week of study building, I think, all around.
That's right.
That's right.
That's right.
That's right.
Maybe we should do some quick outros.
People are looking for what to do next.
Maybe, GP, you want to start,
since you always have a very enticing offer for people
to go to right after the Stacks DeFi show.
Yeah, of course um you know i plan to do these weekly screen shares uh after the the stacks defi
show uh in the stacking doubt discord so um you know i just kind of want to dive into what is
really being built and and and show people the the power of of what we can do with stacks
you know building on base builders build on bitcoin so like i i plan on deep diving uh just
about everything in the ecosystem you know hermetica has a new uh they have their 2.0 out uh
they we've got um new one click supply on cestEST. Just so much building is going on.
So jump into the StackingDial Discord.
We're going to be doing that weekly.
And I want to be able to shine a light
and spend some of our most valuable asset together,
which is our time.
So jump in there and let's get educated together.
Let's figure out how everything works.
Amazing.
Roobs, do you want to go next?
I don't want to keep, and then I can round it up.
Yeah, of course.
Exciting times for Stacks.
Hopefully the news keeps coming.
You know, the SBCC cap being opened at some point,
hopefully in May, but we'll see um
you know hopefully a lot more excitement towards the stack token which then will lead you know and
trickle down to the you know the stacks community coins and the meme coins like leo uh you can follow
me for updates or you can follow the leo coin uh stacks account as well it's in my both are in my
bio um but yeah it's, it's time to get some
Leo on Stacks, Founders Pet,
and definitely the place
to grab.
Yeah, from our side,
do give a follow to the Alex
account for announcements coming up
this week.
There will be a couple.
The protocol account as well, which is listed on the listeners.
And yeah, I'll pass it on to Nikib.
Yeah, I mean, for myself, you know, there's still a lot for me to learn in the stack system.
Because I, yeah, pretty much Stacks is insane. I, it has a newcomer in the Stacks ecosystem.
I, the amount of things that's been built is not what we reflected properly in the market.
That's what I feel like.
To me, Stacks is undervalued.
And the more I learn, the more I dive deeper into Stacks, I feel it should be on par with some of the biggest tokens out there.
And yeah, do give protocol a follow.
If you want to know more protocol, follow me or we can have a chat.
If you're working in L2 or something, do just have a chat as well.
We would love to work with you guys as well.
And I will start building, you know?
Yeah.
Awesome. Awesome, awesome. I i was gonna only echo that and uh i'm not excited for your uh excited for your journey in stax and feel free to join
these spaces you know like every week we uh we talk and it's kind of a revolving door of all the
big big people building in the in the space with big ideas so so, so yeah, but, but yeah, for now, make sure to check out Zest protocol,
you know,
the juiciest yields on SBTC in,
in the Stacks ecosystem you can,
you can find there,
I think,
you know,
roughly 4.5% today.
So that's 4.8 actually.
So that's really,
really great yield on,
on your BTC.
Very excited for the next cap to come to.
And then, of course, also check out StackingDow
for the juiciest yields on your STX with continuous yield.
So you stake STX with StackingDow,
and then later today, boom, you will find yield in your wallet.
And then the next day, and the next day, and the next day,
and the next day, both with Staked the next day both with stake stacks and stake stacks btc so you can receive btc today if you have some idle stx
you will uh you'll get some some sbtc in your uh in your wallet couldn't be more exciting so
yeah very very um very happy and very glad that you were you were all all here and your support really matters a
lot you know we yeah we make up the stacks ecosystem all together and you know it's great
to see the spaces grow and and more and more people to to come on here so as always you know
dms are open happy to happy to chat whenever and and yeah we'll be back next week 10 a.m eastern time with uh with
another show another full week of updates and you know until then keep keep grinding and uh
you know let's build the future of bitcoin
